Counteracting Path Dependencies
Rational' Investment Decisions in the Globalising Commercial Property Market
Bibliographic Data
| ID | 5007191 |
|---|---|
| Authors | Martina Fuchs (0000-0002-4644-1448, University of Cologne, corresponding author), André Scharmanski (University of Cologne, corresponding author) |
| Year | 2009 |
| Volume | 41 |
| Issue | 11 |
| Pages | 2724-2740 |
| Publication date | 2009-11-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Environment and Planning A Economy and Space (JOURNAL) |
| Journal identifiers | ISSN: 0308-518X • E-ISSN: 1472-3409 |
| Publisher | SAGE Publications Inc (PUBLISHER) |
| DOI | 10.1068/a41335 |
| OpenAlex | W2013418125 |
| Language | EN |
| Citations received | 11 |
| References cited | 46 |
The commercial property market is transforming from a locally embedded industry to an international one. In the neverending search for opportunities, an increasing number of investors are turning their attention to new, distant, and opaque property markets. Still largely unknown to the investors, such markets generate much uncertainty for decision making. Investors seek to overcome this by adopting new decision-making strategies based on economic models promising transparent optimum solutions. Using global office investors as an example, we show that these actors attempt to generate know-how systematically, to take better 'rational' decisions rooted in neoclassical economy and based on key performance indicators. However, we also highlight that the process of rational decision making contains some cracks in its edifice, thus providing space for path dependencies to intrude
Behavioral economics · Business · Computer security · Economics · Industrial organization · Investment Decisions · Microeconomics · Political science · Politics · Property market · Banking stability, regulation, efficiency · Computer Science · Housing Market and Economics · Finance
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Cities on the global real estate marketplace
Sustainability and the Anchoring of Capital
Seeking Opportunities
Unpacking corporate ownership in property markets
Globalizing financial valuation
Architectures of Knowledge
Dynamic capabilities
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The Dynamic Capabilities of Firms
Performing Cultures in the New Economy
Path dependence and regional economic evolution
Economic theories and spatial transformations clarifying the space-time premises and outcomes of economic theories
Decentralized versus centralized financial systems
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From 'industrial districts' to 'knowledge clusters
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Money flows like mercury
Clusters and knowledge
Geography of Reputation
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The Secondary Circuit of Capital Reconsidered
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The Integration of Property and Financial Markets
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| Citations per year | 0.69 |
|---|---|
| Citation span | 2010 - 2023 (14) |
| Highly cited | No |